12.2 - Cartels
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what is a cartel?
MyMrwrestling 2 months ago
@Desp0 when the firm is a price taker
tynomartin 2 months ago
In short, when you hold up a distribution chain, you can charge more for a product than if there's a whole bunch of different sellers similar products to the same buyers. The US retail economy seems in my opinion to be increasingly dominated by informal trusts and cartels: we can only hope that it eventually undermines its stability and topples over.
musicalidea 8 months ago
@Desp0 MC doesn't have to be constant, it is only assumed for simplicity in this video; MC is appropriate to the firms' cost structure as in other monopoly and competitive models. For example, if MC is upward sloping the important thing to consider is that because MR lies below the demand curve (if demand is downward sloping) it is also less than MC; this creates an incentive to create a cartel to raise the price and MR, just like when MC is constant and MR is below MC.
Elizabethgrad 1 year ago
hey ur awesome !!!!!!!!!!!!!!!!!!!!!!!!!!!!!
abigailhmm 1 year ago
can someone tell me when do we assume MC to be consistent (straight line)?
Desp0 2 years ago
this man is a guru. I love to see people immersed in so much knowledge. Im doing my degree in Banking and Finance and i hope to go on to do my Masters. Though economice is part of our study i doubt it will be this difficult. I want to become a Financil analyst someday. Good video...........
BajanCreation 2 years ago
Merci !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
aneyito 2 years ago
Thanks, your videos are helping me on my BSc Economics course. The MBA material is practically identical to First Year material of my Economics degree.
MonkeyMagic089 2 years ago
this guy is amazing
thatsexyguy 3 years ago